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June 18, 2014
16:50 EDTENB, EEPEnbridge, Enbridge Energy estimate cost for L3R program about $7.5B
Enbridge (ENB) and Enbridge Energy Partners, L.P. (EEP) announced the final scope and cost estimate for their Line 3 Replacement Program is approximately $7.5B. The L3R Program was announced on March 3, following receipt of shipper support, and involves replacement of all segments of Line 3 between Hardisty, Alberta and Superior, Wisconsin with new pipe using the latest available high-strength steel and coating technology. The agreement between Enbridge and its mainline shippers includes an international joint tariff surcharge to provide return on and of the capital investment. The IJT surcharge will be adjusted to reflect 75% of the increase in the incremental investment required. Substantially all of the increase in the final estimate applies to the Canadian portion of the L3R Program, estimated to cost approximately CDN$4.9B. The U.S. portion of the program is estimated to cost approximately US$2.6B. The U.S. program will be funded jointly by Enbridge and EEP at participation levels to be finalized and approved by a special committee of the Board of Directors of EEP.
News For ENB;EEP From The Last 14 Days
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July 31, 2015
07:05 EDTENBEnbridge sees FY15 EPS C$2.05-C$2.35
Sees FY15 cash flow from operations C$3.30-C$4.00.
07:04 EDTENBEnbridge reports Q2 adjusted EPS C$0.60 vs. C$0.40 last year
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July 30, 2015
16:48 EDTEEPEnbridge Energy reports Q2 adjusted EPS 18c, consensus 24c
Reports Q2 revenue $1.31B, consensus $1.63B.
July 29, 2015
19:15 EDTEEPEnbridge Partners says may increase cash distributions to Midcoast Partners
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